WCM Investment Management LLC Purchases 3,463 Shares of Principal Financial Group, Inc. (NYSE:PFG)

WCM Investment Management LLC grew its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 112.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,544 shares of the company’s stock after buying an additional 3,463 shares during the period. WCM Investment Management LLC’s holdings in Principal Financial Group were worth $505,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Peterson Financial Group Inc. purchased a new position in Principal Financial Group during the 3rd quarter valued at about $33,000. Truvestments Capital LLC bought a new stake in Principal Financial Group during the third quarter worth about $43,000. Prospera Private Wealth LLC purchased a new stake in Principal Financial Group in the third quarter worth approximately $45,000. Sugarloaf Wealth Management LLC boosted its stake in shares of Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after purchasing an additional 195 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Principal Financial Group during the third quarter valued at about $50,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Up 2.5 %

PFG stock opened at $84.38 on Tuesday. The business’s 50-day moving average price is $80.04 and its 200-day moving average price is $82.04. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock has a market cap of $19.30 billion, a P/E ratio of 12.63, a PEG ratio of 0.79 and a beta of 1.22. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a dividend of $0.75 per share. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 3.56%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio (DPR) is currently 44.91%.

Analyst Upgrades and Downgrades

PFG has been the topic of several analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. Morgan Stanley restated an “underweight” rating and set a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lowered their price target on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Finally, Wells Fargo & Company cut their target price on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $85.38.

Principal Financial Group Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.